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Firm Puts No-Load Funds On Health Account Menu

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NU Online News Service, Oct. 12, 2004, 5:19 p.m. EDT

Health Savings Administrators L.L.C., Richmond, Va., is offering 15 mutual funds from Vanguard Group Inc., Valley Forge, Pa., to holders of health savings accounts.[@@]

The funds are no-load, low-cost funds, and Health Savings says it believes it may be one of the first HSA administrator to include Vanguard’s funds on the investment menu.

The new HSA program gives healthy taxpayers a chance to combine high-deductible health coverage with deductions on thousands of dollars in annual contributions to personal health accounts. HSA holders can keep unused assets at the end of the year. In theory, healthy holders could contribute more than $100,000 over the course of a lifetime, experts say.